2012-05-15T08:36:04-05:00 2011-12-31 060903326 WHITTLESEY & HADLEY PC 147 CHARTER OAK AVE HARTFORD CT 061065100 990 2011-01-01 050255222 WESTERLY COMMUNITY CREDIT UNION WEST 4015967000 15 GRAY LANE ASHWAY RI 02804 ROBERT FALSO 4015967000 2012-05-15 1 BARBARA J SNYDER CPA P00621730 8605223111 2011 2016-02-24 21:20:13Z X ROBERT FALSO 15 GRAY LANE ASHWAY RI 02804 31881285 0 X WWW.WESTERLYCCU.COM X 1948 RI FINANCIAL SERVICES 12 12 72 0 0 0 0 0 10761939 10276509 863784 1360597 524839 0 12150562 11637106 0 0 0 0 3879846 4068850 0 0 0 7231496 7475309 11111342 11544159 1039220 92947 213056192 210540210 196734474 195586165 16321718 14954045 TO PROVIDE LOW COST FINANCIAL SERVICES TO THE CREDIT UNION OWNER DEPOSITORS 0 0 MAINTENANCE OF MEMBERS' DEPOSIT ACCOUNT AND THE PAYMENT OF INTEREST AND DIVIDENDS 0 0 0 0 0 0 0 0 0 1 1 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 34 0 72 0 0 0 0 0 0 0 0 0 X 12 12 0 0 0 0 1 1 1 1 1 0 1 1 1 1 0 0 1 1 1 1 0 X ROBERT FALSO 4015967000 15 GRAY LANE ASHWAY RI 02804 ROBERT DELANEY 1.00 X 8225 0 0 RUTH FOSTER-MORGAN 1.00 X 8225 0 0 ELIZABETH FUSCO-TIKOIAN 1.00 X 6700 0 0 JAMES GLEASON 1.00 X 6700 0 0 PETER GRIGGS 1.00 X 6700 0 0 MELISSA HILL-BUSCH 1.00 X 6700 0 0 WILLIAM HORNE 1.00 X 11300 0 0 JOSEPH LIMANI 1.00 X 6700 0 0 DANNY NESMITH 1.00 X 8225 0 0 WILLIAM QUIRK 1.00 X 6700 0 0 DAVID SAYLES 1.00 X 6700 0 0 STEPHEN SCALES 1.00 X 9875 0 0 JOSEPH RITACCO 1.00 X 5050 0 0 PETER STEFANSKI 1.00 X 5050 0 0 PAUL MARSIGLIO 1.00 X 5050 0 0 DAWN SMITH 1.00 X 5050 0 0 SEAN MCGILL 1.00 X 2950 0 0 ROBERT FALSO 40.00 X 110134 0 0 STEPHEN WHITE 40.00 X 171165 0 0 397199 0 0 2 0 1 0 0 INTEREST INCOME ON LOA 522291 8668351 8668351 MEMBER SERVICE FEES 525990 1608158 1608158 10276509 713870 713870 4084197 16806709 3672679 16571500 411518 235209 646727 646727 11637106 11637106 0 0 397199 2654917 271276 497017 248441 15680 87000 100417 330632 608760 574201 972644 260803 1632330 601484 PROVISION FOR LOAN LOSS 1060714 NCUSIF STABILIZATION 452075 OREO EXP 410353 LOAN SERVICING EXP 368216 11544159 3752206 6236869 856680 1467913 676733 600110 173937165 172201191 14948380 8794457 6267710 6153923 20460731 18507994 7104967 5372210 213056192 210540210 2923218 2330710 16509679 9468308 177301577 183787147 196734474 195586165 X 0 0 0 0 16321718 14954045 16321718 14954045 213056192 210540210 X 92947 -1460620 X 0 1 1 X 0 1178154 1178154 8153369 4399890 3753479 428323 105587 322736 4748520 3897168 851352 440014 391812 48202 6153923 AFS SECURITIES 17524694 F FHLB STOCK 983300 C 18507994 MEMBERS' SHARE AND SAVINGS ACCTS 183787147 183787147 11637106 11544159 92947 -504789 -955831 -1460620 -1367673 11637106 0 11637106 0 11637106 11544159 0 11544159 0 11544159 X 0 0 0 STEPHEN WHITE 171165 0 0 0 0 0 0 0 0 0 171165 0 0 0 W HORNE X 150000 138269 0 1 1 J LIMANNI X 50000 37018 0 1 1 J LIMANNI X 75000 47913 0 1 1 W QUIRK X 175000 160195 0 1 1 W QUIRK X 19080 4278 0 1 1 W QUIRK X 50000 49453 0 1 1 D SAYLES X 113000 88249 0 1 1 D SAYLES X 25000 3003 0 1 1 S WHITE X 80000 77957 0 1 1 606335 FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION IS OWNED BY ITS MEMBER DEPOSITORS. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERS ELECT THE BOARD OF DIRECTORS AND RATIFY THEIR ACTIONS AT THE ANNUAL MEETING. FORM 990, PART VI, SECTION A, LINE 7B THE MEMBERS MUST APPROVE MERGERS AT THE CREDIT UNION. FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 IS REVIEWED BY MANAGEMENT PRIOR TO ITS FILING AND COPIES ARE PROVIDED TO THE BOARD OF DIRECTORS AT THE SUBSEQUENT MEETING. FORM 990, PART VI, SECTION B, LINE 15 OFFICER SALARIES ARE APPROVED ANNUALLY BY THE BOARD OF DIRECTORS FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES THESE FORMS AVAILABLE TO THE PUBLIC UPON REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED LOSSES ON INVESTMENTS: -504,789. NET CHANGE IN MINIMUM PENSION LIABILITY -955,831. TOTAL TO FORM 990, PART XI, LINE 5: -1,460,620.